CureVac drops COVID-19 vaccine, pins hope on next-generation shots

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(Reuters) – CureVac NV (5CV.DE) said on Tuesday it will give up on its first-generation COVID-19 vaccine candidate and instead focus on collaborating with GSK (GSK.L) to develop improved mRNA vaccine technology.

The German biotechnology company’s shares were off about 8% after earlier plunging as much as 13%, hitting their lowest since going public in August last year.

CureVac said it would abandon its application for approval from the European Medicines Agency for its first COVID-19 vaccine candidate, CVnCoV, after late-stage trials delivered disappointing results in June with 47% efficacy.

Abandoning the vaccine will avoid a potential overlap with approval timelines for its most advanced second-generation candidates, it said. The move also allows the company to focus on the race for new variant-specific vaccines, and for combination shots that prevent two or more infectious diseases.


Reuters source: